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Turnbull's Agile Approach

Turnbull's Agile Approach

Lateral | 22/12/2015
Turnbull's Agile Approach

Ideas To Boom In Turnbull's Agile New Economy

Malcolm Turnbull believes that there has never been a more exciting time to be an Australian, but the recent state of national politics and the economy might have led to you believe otherwise, especially if you're a young entrepreneur. However, since the change of leadership there have been some encouraging signs; the new PM has been keen to emphasise that he is passionate about technology, innovation and moving the economy forward into a new, nimble and thoroughly modern state of being. Now this positive rhetoric has been put into action with his innovation statement; a raft of tax incentives, legislative changes and funding injections designed to make this vision of the future Australian economy a reality.

What this means for young entrepreneurs

One of the key facets of Turnbull's plan is to encourage young people to come up with great new, innovative ideas and turn them into profitable businesses with incentives such as:

  • A new $200 million CSIRO Innovation Fund to support investments in spin-offs and start-up companies.
  • Tax breaks for early stage investors to help the 4500 startups that miss out on equity finance each year.
  • Increases in funding targeting STEM (Science, Technology, Engineering and Maths) education and participation that will result in a more technologically literate and active population.
  • Increased links with key overseas economies to allow Australians to have 'landing pads' in key centres of international innovation like Silicon Valley, San Francisco and Tel Aviv.
  • Helping to remedy Australia's fear of failure by encouraging risk taking through changes to laws regarding bankruptcy and crowd funding.

Admittedly it's early days yet, but if our new PM's appetite for new tech, innovation and change continues into the future the ongoing benefits could mean that it will indeed be a very exciting time to be an Australian entrepreneur.

Please contact us @ Lateral Labs if you want to create your innovation!

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